Dealing with a real estate property means you obviously need to go through legal documents and procedures, right? And handling legal issues without the help of a lawyer is almost like throwing stones in the dark. There are so many issues in a real estate transaction from the buyer’s side, seller’s side, and agent.
This article particularly focuses on what property lawyers actually do for sellers. You will get the details in the next sections. So let’s read onward.
What A Real Estate Lawyer Does for A Seller?
Real estate lawyers serve you wholeheartedly when you hire them for property selling. Good real estate lawyers are available to serve their clients in all states and provinces, e.g., Edmonton real estate lawyer.
Here you can find some major contributions that a real estate lawyer do for a seller:
Navigation of Short Sale and Foreclosure Complexities
When you are in a shortage of money or immediately need a big amount, you can go for a short sale or a foreclosure. And in this regard, a real estate lawyer can become your best weapon.
The lawyer will try to show the actual circumstance of your financial crisis to the lender. They will present all the relevant documents to the lender in such a way so that the lender believes you.
Again, the lawyer also handles foreclosure hurdles and complexities so that you can reach out to closing as quickly as possible.
Dealings of Paperwork Related to Inherited Property
While dealing with an inherited property, you must need help from an experienced and professional real estate lawyer. Better not to step forward alone because the transaction made for inherited property is the most complex.
Suppose you have inherited a piece of land from your mother and your mother died without any probation in your name. After her death, you also did not take any step to make the probation work thinking that there would be no issues as you are the only heir of your mother.
But no lender would become interested in buying this land because the land is in your mother’s name. They will not take any risk. Here only a real estate lawyer can save you from this unwanted situation.
Solving out Documentation Disputes
Another problem a seller often faces in the case of real estate selling is documentation disputes. For example, some land documents might not get recorded or drafted for years.
When you sell such land, lenders might create problems, or they might deny purchasing your land. But if you have a good real estate lawyer with you, you need not worry much. They will try to solve these documentation disputes as far as possible and convince the lender to purchase the land.
Discussion on Liability Regarding Repairs
This is another major issue. When you sell a house with all its furniture, you can not guarantee its longevity as you have used them for ages.
Anything can happen at the last moment or just before the closing date. Such as, the refrigerator might get damaged or roof parts might get leaked, etc.
Although you agree to provide them with a brand new refrigerator, the lender will not pay extra cost for it. Probably, the lender will just pay the cost for the old one. In such cases, your real estate lawyer can handle the discussion smoothly so that you can get the most of it.
Handling Sells Who Are from Out of Towns
If any owner is from out of the town and if the person can’t come and handle all things frequently, your real estate lawyer is the name of reliance. He will travel to both of you with all the necessary documents for observation and sign up on your behalf.
Meditation of Sales with Multiple Owners
When you inherit a property along with your siblings or jointly with your spouse, it might create chaos and misunderstandings while selling. In that case, a real estate lawyer is a good mediator among you and the others who share your property and try to reach out to an effective solution.
Protection of Seller’s Interest
Last but not least, you have a real estate lawyer by your side means you have strong power. The lawyer will always try to protect your interest and convince the lender accordingly. Your satisfaction is his ultimate success.
Finally, we sum up our discussion here. Probably you have got your answer of what a real estate lawyer does for a seller, right?
If you search or talk to a relative or friend who has real-life experience dealing with a real estate lawyer, you might find hundreds more advantages like these. Hence, it is wise to hire a professional real estate lawyer while dealing with such properties.